Wallace Advisory Group LLC Sells 14 Shares of Markel Group Inc. (NYSE:MKL)

Wallace Advisory Group LLC reduced its holdings in Markel Group Inc. (NYSE:MKLFree Report) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 285 shares of the insurance provider’s stock after selling 14 shares during the quarter. Wallace Advisory Group LLC’s holdings in Markel Group were worth $405,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in Markel Group in the 4th quarter worth $214,216,000. Boston Partners raised its stake in Markel Group by 400.1% in the fourth quarter. Boston Partners now owns 156,872 shares of the insurance provider’s stock worth $222,771,000 after buying an additional 125,507 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in Markel Group in the first quarter worth about $133,143,000. Jennison Associates LLC boosted its position in Markel Group by 111.3% during the 4th quarter. Jennison Associates LLC now owns 77,995 shares of the insurance provider’s stock valued at $110,745,000 after acquiring an additional 41,086 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new position in shares of Markel Group during the 1st quarter worth approximately $60,937,000. 77.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MKL. Truist Financial raised their target price on Markel Group from $1,400.00 to $1,600.00 and gave the company a “hold” rating in a research note on Friday, May 3rd. Janney Montgomery Scott reissued a “neutral” rating and set a $1,600.00 price objective on shares of Markel Group in a research note on Friday, March 15th. Finally, Royal Bank of Canada lifted their target price on shares of Markel Group from $1,475.00 to $1,625.00 and gave the company a “sector perform” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $1,520.00.

Read Our Latest Stock Report on Markel Group

Insider Buying and Selling at Markel Group

In other news, Director Steven A. Markel sold 3,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $1,638.39, for a total transaction of $4,915,170.00. Following the transaction, the director now directly owns 66,668 shares of the company’s stock, valued at $109,228,184.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Markel Group news, Director Steven A. Markel sold 3,000 shares of Markel Group stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $1,638.39, for a total value of $4,915,170.00. Following the completion of the sale, the director now owns 66,668 shares of the company’s stock, valued at approximately $109,228,184.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Greta J. Harris sold 122 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $1,620.83, for a total transaction of $197,741.26. Following the sale, the director now owns 634 shares of the company’s stock, valued at $1,027,606.22. The disclosure for this sale can be found here. Company insiders own 1.71% of the company’s stock.

Markel Group Stock Down 0.7 %

MKL stock traded down $11.74 during trading on Tuesday, hitting $1,580.25. 18,299 shares of the stock traded hands, compared to its average volume of 45,064. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 8.61 and a beta of 0.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.61 and a quick ratio of 0.61. Markel Group Inc. has a 1 year low of $1,295.65 and a 1 year high of $1,670.24. The firm’s 50 day moving average is $1,568.51 and its two-hundred day moving average is $1,495.22.

Markel Group (NYSE:MKLGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $18.17 EPS for the quarter, missing analysts’ consensus estimates of $18.50 by ($0.33). Markel Group had a net margin of 15.23% and a return on equity of 11.18%. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.62 billion. On average, sell-side analysts anticipate that Markel Group Inc. will post 82.83 EPS for the current year.

Markel Group Profile

(Free Report)

Markel Group Inc, a diverse holding company, engages in marketing and underwriting specialty insurance products in the United States, Bermuda, the United Kingdom, and Germany. The company offers general and professional liability, personal lines, marine and energy, specialty programs, and workers' compensation insurance products; and property coverages that include fire, allied lines, and other specialized property coverages, including catastrophe-exposed property risks, such as earthquake and wind.

Further Reading

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Institutional Ownership by Quarter for Markel Group (NYSE:MKL)

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